Recently, Telangana Chief Minister K. Chandrashekar Rao has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the current crisis and kick start economic activity in India. It is aimed to rising concerns over economic crisis that has been triggered by the COVID-19 lockdown. Daily Current Affairs Quiz 2020 […]
Helicopter Money to revive Indian Economy from COVID-19 crisis Read More »
The Reserve Bank of India (RBI) has extended the realisation period of export proceeds and Ways and Means Advance (WMA) limit of state governments. Further, the central bank has provided relief to the banking sector’s capital requirements. These steps have been taken to cushion the economic impact of the coronavirus pandemic and lockdown. These steps
Reserve Bank of India (RBI) stated that the schemes for the merger of 10 state-run banks into four lenders will come into force from 1 April. RBI also stated that the branches of merging banks will operate as of the banks in which the banks have been amalgamated. The banks sought to defer the merger
Mega merger of PSU banks comes into force from 1st April Read More »
Reserve Bank of India (RBI) has made a proposal to write-down Additional Tier-1 (AT-1) bonds as part of the SBI-led restructuring package for Yes Bank. AT-1 bonds are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms. AT-1 bonds are like any other
RBI made a proposal to write-down Additional Tier-1 (AT-1) bonds Read More »
Reserve Bank of India revised exposure limits for urban cooperative banks (UCBs) to a single borrower and a group of borrowers to 15 per cent and 25 percent, respectively, of tier-1 capital. RBI had earlier permitted UCBs to have exposures up to 15 per cent and 40 per cent of their capital funds to a
Reserve Bank of India announced the setting up of a Digital Payments Index. This index, the RBI says would help capture the extent of digitisation of payments effectively. The DPI would be based on multiple parameters and shall reflect accurately the penetration and deepening of various digital payment modes. The DPI will be made available
Reserve Bank of India to create Digital Payments Index Read More »
The Reserve Bank of India (RBI) has kept repo rate unchanged for the second consecutive time at 5.15 per cent and reverse repo rate at 4.90 per cent in its sixth bi-monthly monetary policy meet. It also decided to continue with its accommodative stance as long as it was necessary to revive growth. Daily Current
Union Cabinet approved amendments to the Banking Regulation Act to bring cooperative banks under the regulatory mechanism of Reserve Bank of India. The government has taken this move in the wake of the Punjab and Maharashtra Co-operative (PMC) Bank crisis. Daily Current Affairs Quiz 2020 The provisions would give Reserve Bank of India (RBI) the
Cabinet approves amendment to bring cooperative banks under RBI Read More »
Reserve Bank of India has imposed a penalty of Rs 1 crore on HDFC Bank for non-compliance with Know Your Customer (KYC) norms. Supervisory evaluation of the bank (2016-17) revealed that the HDFC Bank had “failed to exercise ongoing due diligence” with regards to 39 current accounts opened by its customers for bidding in Initial
The Reserve Bank of India (RBI) stopped the production of Rs. 2000 notes. Not a single note has been printed in the last financial year. According to the RBI report, the share of Rs 2,000 notes in value term was 50.2 per cent in 2016/17, which later fell to 31.2 per cent in 2018/19. Daily
